Small Business Administration Loans

We offer many products and services to all types of businesses, but our Micro Enterprise team handles most start-ups or smaller businesses (loan requests $500-$50,000). Most other start-ups, such as franchises with loan sizes greater than $50,000, can be assisted through the various Small Business Administration (SBA) programs available. The Small Business Administration 7a program typically is used for start-ups and/or business purchases. 

Generally we look for stability of the business (time in business), the business cash flow (can the business afford the loan), the collateral (assets that are pledged to the lender in case of default, typically vehicles, real estate, equipment, or cash collateral) and good credit rating (both the business and the owners) loan-to-value. (generally collateral value multiplied by 80% for owner occupied and collateral value multiplied by 75% for investment properties) 

Possibly. It is recommended that the member has a well thought out business plan (usually local Small Business Development Centers are a good resource for assistance in small business start-ups). The business plan requires financial projections and assumptions documented about how the business will be sustainable. Generally, we require the principle have experience in the industry of the business. 

Business Lending has several products and services available to assist small business owners, from loans and lines of credit and remote deposit capture to payroll services and start-up assistance through our Micro Enterprise program.